____________ is a summary of the account balances carried in a ledger.
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A. B. C. D.C
The correct answer to this question is D. General journal.
A ledger is a book or computerized database that contains a record of all the financial transactions of a company. It is used to classify and summarize financial transactions into specific accounts, such as accounts payable, accounts receivable, cash, and inventory.
A general journal is a book or computerized document that records all the financial transactions of a company in chronological order. It is a primary accounting record that provides a complete and detailed record of all the financial transactions of a business. Each entry in the general journal includes the date of the transaction, the accounts affected, a brief description of the transaction, and the amounts debited and credited.
At the end of an accounting period, the balances of all the accounts in the general journal are summarized in a document called a trial balance. This document lists all the accounts and their balances, including debit and credit balances, and is used to ensure that the total debits and credits are equal.
Therefore, a summary of the account balances carried in a ledger is called a trial balance, which is prepared from the general journal. The trial balance is used to prepare financial statements, including the balance sheet and income statement, which are used to report the financial performance and position of a company.